Kura Sushi USA, Inc. $KRUS Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its holdings in Kura Sushi USA, Inc. by 8.2%, selling 31,233 shares in the first quarter, leaving them with 351,948 shares valued at approximately $18 million.
• Despite recent sales, several large investors increased their stakes in Kura Sushi USA, with Ameriprise Financial raising its holdings by 22.2%.
• Kura Sushi reported quarterly earnings per share of $0.05, surpassing analysts' expectations, and analysts maintain a consensus rating of "Moderate Buy" for the stock.

Fred Alger Management LLC trimmed its holdings in shares of Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 351,948 shares of the company's stock after selling 31,233 shares during the period. Fred Alger Management LLC owned 2.91% of Kura Sushi USA worth $18,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Kura Sushi USA during the fourth quarter worth $77,000. AlphaQuest LLC bought a new position in shares of Kura Sushi USA during the first quarter worth about $68,000. US Bancorp DE grew its position in shares of Kura Sushi USA by 14.8% during the first quarter. US Bancorp DE now owns 2,073 shares of the company's stock worth $106,000 after acquiring an additional 268 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Kura Sushi USA during the fourth quarter worth about $204,000. Finally, Corebridge Financial Inc. grew its position in shares of Kura Sushi USA by 12.2% during the first quarter. Corebridge Financial Inc. now owns 3,304 shares of the company's stock worth $169,000 after acquiring an additional 360 shares during the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. TD Securities restated a "hold" rating and set a $79.00 price target on shares of Kura Sushi USA in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Kura Sushi USA from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Barclays upped their price target on shares of Kura Sushi USA from $71.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Citigroup upped their price target on shares of Kura Sushi USA from $85.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Finally, Lake Street Capital upped their price target on shares of Kura Sushi USA from $62.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $93.78.

Kura Sushi USA Stock Down 4.0%

Kura Sushi USA stock traded down $3.35 during trading hours on Friday, hitting $79.67. 352,079 shares of the company traded hands, compared to its average volume of 206,745. The firm has a market cap of $963.21 million, a P/E ratio of -99.59 and a beta of 1.79. The firm's 50-day simple moving average is $81.84 and its two-hundred day simple moving average is $70.14. Kura Sushi USA, Inc. has a 1-year low of $40.03 and a 1-year high of $110.66.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last released its earnings results on Tuesday, July 8th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The firm had revenue of $73.97 million for the quarter, compared to analysts' expectations of $71.82 million. Kura Sushi USA had a negative net margin of 3.48% and a negative return on equity of 0.49%. Kura Sushi USA has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current year.

Kura Sushi USA Company Profile